Handelsbanken Fonder AB Sells 1,547 Shares of FedEx Co. (NYSE:FDX)

Handelsbanken Fonder AB trimmed its position in FedEx Co. (NYSE:FDX - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,427 shares of the shipping service provider's stock after selling 1,547 shares during the quarter. Handelsbanken Fonder AB's holdings in FedEx were worth $22,532,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Transce3nd LLC purchased a new stake in shares of FedEx in the fourth quarter worth approximately $26,000. Kentucky Trust Co purchased a new stake in shares of FedEx in the fourth quarter worth approximately $28,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of FedEx in the fourth quarter worth approximately $28,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of FedEx in the fourth quarter worth approximately $32,000. Finally, Accredited Wealth Management LLC purchased a new stake in shares of FedEx in the fourth quarter worth approximately $35,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the sale, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.87% of the stock is owned by corporate insiders.

FedEx Stock Performance

FDX traded down $1.05 during trading on Friday, reaching $223.95. 1,888,309 shares of the company's stock were exchanged, compared to its average volume of 1,854,095. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average price of $216.82 and a 200 day moving average price of $247.37. The company has a market capitalization of $53.66 billion, a P/E ratio of 14.27, a PEG ratio of 1.11 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the prior year, the firm earned $3.86 EPS. The firm's quarterly revenue was up 1.9% on a year-over-year basis. As a group, analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be paid a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Monday, June 23rd. This is an increase from FedEx's previous quarterly dividend of $1.38. FedEx's payout ratio is currently 36.39%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on FDX shares. Citigroup cut their price objective on shares of FedEx from $305.00 to $267.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen lowered shares of FedEx from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Jefferies Financial Group raised shares of FedEx from a "hold" rating to a "buy" rating and cut their price objective for the company from $300.00 to $275.00 in a research report on Monday, March 24th. Stifel Nicolaus cut their price objective on shares of FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $292.54.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.